Houston avoided arbitration with RHP Roy Oswalt yesterday, signing him to a two-year, $16.9M contract. When teams and players exchanged arbitration figures, the Astros offered $6M while Oswalt requested $7.8M. This deal set his salary at $5.9M in 2005 and $11M in 2006. The contract also includes a potential $500,000 bonus for winning a Cy Young, a $350,000 bonus for finishing second in the CY voting, and $250,000 for finishing third.

While the 27-year-old's ability to avoid straining his mid-section remains questionable, Oswalt's upside demanded a multi-year commitment. I would not describe any of his individual skills as superb, but he also lacks a particular weakness. Together his solid control, strikeout rate, and his ability to keep the ball on the ground result in exceptional effectiveness. Due to a general distrust of the constitution of pitchers, Houston preferred not to stretch the contract to a third season and buyout the remainder of his arbitration seasons, but I believe the club will regret not including at least an option for a third year.

The Astros narrowly avoided an arbitration hearing with RHP Tim Redding, completing their negotiations in the hearing room a half an hour past the time when the parties were scheduled begin presenting their case to the arbitrator on February 7th. When the two sides exchanged arbitration figures, Houston offered $575,000 while Redding requested $1.4M. They compromised with a one-year, $750,000 contract that includes an additional $300,000 in potential bonuses reportedly based on games started, length of starts, and relief appearances.

Redding enters spring training fighting for a rotation slot and may find himself battling for a bullpen role if he cannot secure the starting job. The 27-year-old continues to struggle with his control, and his strikeout rate has slipped from the impressive 8.89 K/9 of his rookie season to a mere 5.01 K/9 last year. Considering the Astros' abundance of alternatives, I find it difficult to identify his place in the organization.